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My Student Loan Rehab Success Story

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Senior Contributor

Re: My Student Loan Rehab Success Story


@Coach_B_White wrote:

Question for you,

 

Where on the studentaid.ed.gov website did you find what's the status of your student loans?? I can't seem to find it?

 

I just completed my defaulted student loan payment plan and my loans just got transferred back to Great Lakes on the 12/14/2019. Would I have to wait till my credit report updates to show that my loans are back in Good Standing??

 

CONGRATS AGAIN!!!


https://nslds.ed.gov/nslds/nslds_SA/ 
You will need to have an account (so if you have one, great!  If not, it's easy to make one).  Download your student loan data, which will be in an awful text file and it should give you all of the information you need.

And yes, you will have to wait for the CRAs to update.  Student loans tend to take a long time to straighten out with reporting, so just stay on top of it, and you should be fine.




F8 EQ: 804 | EX: 794 | TU: 801 | Accounts: 2/6 4/12 8/24
Happy practitioner of AZE9or10or11 | Team Finances > FICO
Message 11 of 27
Highlighted
Established Member

Re: My Student Loan Rehab Success Story

Hi Coach, congratulations!

 

The student aid website seems to have been redesigned the last few weeks, but the loan status (defaulted or in repayment) can be viewed on https://nslds.ed.gov, as mentioned by another poster.

 

Here is where I submitteded my feedback/issue, and my loan status and credit reports were corrected in about 5-6 weeks: https://feedback.studentaid.ed.gov/s/?language=en_US

 

Good luck!

 

 

Message 12 of 27
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Established Member

Re: My Student Loan Rehab Success Story

Hi Coach, I thought I'd responded to you, but I can't see it anywhere, so I'm trying again.

 

To see the status of your loans, another contributor mentioned using this site: https://nslds.ed.gov/nslds/nslds_SA/

You may have to sign up and go through the process of registering a username. 

 

Here is the site to where I submitted my "report an issue": https://feedback.studentaid.ed.gov/s/?language=en_US

 

I just submitted an "issue" that the status of my loans were erroneously listed as "defaulted" (I didn't mention that I'd only completed my last rehab payment a week before) and that my credit reports were also incorrect. It took several weeks, but all got resolved quicker than what other boards here would suggest. Not sure if I simply got lucky, but I'm not a lucky person by nature, so I hope it helps you too. Smiley Happy Good luck!

Message 13 of 27
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Contributor

Re: My Student Loan Rehab Success Story


@tohellina wrote:

Again, I'm writing this to hopefully help others on their default journey. I considered consolidation instead, but it wouldn't have erased my negative payment history, and the collection fees would've become part of my loan balance (the fees were also removed as part of the rehab). Rehab takes a very long time, but I do think it's worth it. Good luck!

 

Your post certainly does help!! I set up my rehab today and was wondering what kind of jump others experienced at completion. Your "before" stats are similar to what mine are today, including the loan balance. I hope my score jumps around 100 points as yours did. Congratulations!


 


FICO8
April 2020 EQ 541 TU 575 EXP 545
Sept 2020 EQ 627 TU 651 EXP 629
Goal Score 800
GARDENING until 6/20/2021
Message 14 of 27
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Established Member

Re: My Student Loan Rehab Success Story

@SedimentaryRock 

 

Best of luck to you, the road is looong but very worth it. Since my post, I've managed to get easy approval for a HELOC and new home mortgage. A year ago, this was a pipe dream. 

 

Keep us posted, please! Would love to hear your outcome. Take care. 

Message 15 of 27
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New Member

Re: My Student Loan Rehab Success Story

@tohellina @calyx 

 

Good Morning all,

After the long road of getting my student loans back into good standing. I was able to obtain a home loan and a new credit card w/AMEX. Right now I'm just concentrating on paying down the student loan debt. Lucky to still have a job during this pandemic so I've been paying

Message 16 of 27
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Senior Contributor

Re: My Student Loan Rehab Success Story


@Coach_B_White wrote:

@tohellina @calyx 

 

Good Morning all,

After the long road of getting my student loans back into good standing. I was able to obtain a home loan and a new credit card w/AMEX. Right now I'm just concentrating on paying down the student loan debt. Lucky to still have a job during this pandemic so I've been paying


Congrats on the progress and success after all your hard work @Coach_B_White 




F8 EQ: 804 | EX: 794 | TU: 801 | Accounts: 2/6 4/12 8/24
Happy practitioner of AZE9or10or11 | Team Finances > FICO
Message 17 of 27
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Regular Contributor

Re: My Student Loan Rehab Success Story

This is a great post and just what I have been looking for. I'm going to follow all of these same steps as I complete my final payment later this month. Thanks for sharing this information. 




Message 18 of 27
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Established Member

Re: My Student Loan Rehab Success Story

You're so welcome! Please let us know how it all turns out. Good luck!

Message 19 of 27
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Contributor

Re: My Student Loan Rehab Success Story

Congratulations! 5 months behind...Smiley Happy


FICO8
April 2020 EQ 541 TU 575 EXP 545
Sept 2020 EQ 627 TU 651 EXP 629
Goal Score 800
GARDENING until 6/20/2021
Message 20 of 27
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